Business
Firms partner on ‘Renewed Hope Housing’ marketing
QShelter Ltd.; M.I. Okoro and Associates have signed an MoU to jointly market homes under the Federal Government’s Renewed Hope Housing schemes.
The partnership covers 20,000 homes in Lagos and Abuja, Kano and 60 homes in other parts of the country targeting wider access to affordable housing nationwide.
The agreement was formalised at a joint press briefing attended by industry stakeholders, including financial institutions and professional bodies.
Speaking at the event, Dr Meckson Okoro, Chief executive at M.I. Okoro and Associates, said the partnership would strengthen nationwide marketing for the Renewed Hope Estates.
“This collaboration will widen access to affordable housing for Nigerians at home and in the diaspora,” Okoro said.
He described the alliance as “a major step toward deepening professional participation in the housing sector.”
Okoro commended President Bola Tinubu for prioritising mass housing delivery with long-tenure, single-digit mortgage financing.
He said the scheme, covering NHF mortgages, rent-to-own and MOFI’s MREIF, was “the most serious federal housing intervention since independence.”
Okoro urged the Federal Government to sustain the programme beyond the current administration to ensure long-term impact.
He identified finance, land and infrastructure as critical components needed to keep housing costs affordable.
Okoro called for direct land allocation and provision of roads, power, water and mass transit to reduce home prices.
He also recommended integrating solar power in federal estates to cut energy costs and reliance on generators.
On mortgage access, Okoro warned against delays by disbursement banks, urging closer Central Bank monitoring.
He cited the collapse of mortgage institutions in the 1990s as a lesson on the need for strict regulation.
Okoro stressed the importance of clean land titles to enable legal mortgages and remove financing barriers.
He cautioned against speculative purchases by officials, saying homes “must not be cornered by influential buyers.”
Looking ahead, Okoro said both firms would market the estates globally through exhibitions in the UK and United States.
He added that nationwide expansion and employer-supported housing would boost productivity, curb corruption and reduce the housing deficit.
Speaking at the event, Chairman of Qshelter Limited, Kola Sowande, said the partnership aligns with the company’s objective of supporting the Federal Government’s drive to expand access to affordable homeownership for Nigerians, particularly middle-income earners.
According to Sowande, the Renewed Hope Housing Scheme, initiated by the Federal Government under President Bola Ahmed Tinubu, represents a significant policy shift in addressing Nigeria’s long-standing housing deficit through public–private partnerships and accessible mortgage financing.
“The Renewed Hope Housing Policy is a step in the right direction. For the first time in decades, housing delivery is being matched with funding structures that make homeownership realistic for ordinary Nigerians,” Sowande said.
He noted that beneficiaries under the scheme can access National Housing Fund (NHF) mortgages at six per cent per annum, rent-to-own options at seven per cent, and funding from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which provides mortgage loans of up to N100 million at 9.75 per cent interest.
Also, Qshelter’s Chief Operating Officer,Adegbenga Alamu, outlined the firm’s projects and benefits for informal sector workers.
Alamu said QShelter’s digital platform was simplifying and accelerating homeownership through technology-driven solutions.
Mr Victor Alonge, the NIESV President, praised officials in the Tinubu administration for supporting housing delivery.
Alonge said the MoU would address trust deficits, adding that M.I. Okoro was “a credible and experienced partner.”
Access Holdings Plc Group Managing Director, Innocent Ike, commended the partnership and participating financial institutions.“This collaboration inspires stakeholders to close Nigeria’s housing gap,” Ike said.
However, Mr Fred Adegeye, Captain of the Nigeria UK Golfing Association, highlighted diaspora contributions and concerns over fraud.
Adegeye said the partnership would restore investor confidence, citing personal losses to land grabbers and fraudsters.
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